What I learned in Real Estate this week - 8/16/15

By
Real Estate Broker/Owner with Zion Realty
https://activerain.com/droplet/4HhY

It's been hot this week in Arizona. I mean REALLY hot! We've set record breaking temperatures multiple times over the course of the past seven days. While other areas of the Country are looking forward to Fall being just around the corner, the Phoenix area has been sweltering under 114, 115. and 117 degree days. I am not looking forward to my utility bill at the end of this month to say the least. I'm pretty sure my air conditioning has kicked off for all of about 13 seconds the past week. 

On the other hand, do you know what hasn't been hot lately? Me. I'm on a bit of a losing streak when it comes to listing appointments. My monthly mailers that I send out have had the usual percentage of responses but I've struck out on the chance to assist the last three potential sellers I had the privilege of sitting down with to discuss how I could help them.

One of the potential sellers never ended up listing with anyone so I have continued to reach out to them as any good agent would on the off chance they've just been busy or perhaps some life event has prevented them from selling just yet. The second seller ended up using another agent who listed their property far under the value I would have and ended up getting the home under contract within a week. I have to think the owners left a lot of money on the table because the comparables that I researched had their home worth 15-20k more than what they ended up listing it at. Why they chose to do so is beyond me. 

The third listing appointment I did not win was just this past week. When the sellers called me after they received my marketing materials in the mail they did advise me they were interviewing "several" agents and wanted me to be one of them. I gladly took the appointment as the residence is only a short 10 minute drive from where I live. The homeowners were very nice. The home itself had some nice upgrades and they were in the process of freshening up the paint and having all of the carpets professionally cleaned as well as the rest of the home. The conversation was informative and they seemed very impressed with my knowledge of the area as well as my listing packet that I gave them with charts and information concerning the comparable sales and market analysis of their home. I felt very confident leaving that appointment. Although they did say they still had a few agents left to interview after me I thought I had this listing in the bag!

The very next day I was extremely disappointed to receive the following email from that very nice couple:

 

"Good Morning Nicole,

 
I wanted to thank you again for stopping by our place yesterday and providing your time and expertise during our interview process.  I wanted to let you know that we did select a realtor late yesterday.  The deciding factor was her lengthy experience buying and selling homes within our community, and also that she has lived in our neighborhood for quite some time.
 

I also wanted you to know that we found your presentation and packet very professional and we are grateful you came by to review our property and interview with us.  Your promotional mailer, that I had received earlier in the week, caught my eye and is what led me to contact you because it was one of the best I had seen come through my mailbox.

 

So what did I learn in real estate this week? You can do everything right and still not come out on top. The truth of the matter is I do not live in that homeowners subdivision, however, I have bought and sold many homes in that neighborhood. I am familiar with their golf course, clubhouse, HOA fees, walking and running trails, home values, floor-plans, builders, surrounding shopping centers, and anything else I would need to be aware of to properly advertise their home for sale. I have lived in this area of Gilbert for almost ten years and I highly doubt another agent knows more than I do when it comes to my market. But I do understand there is a lot to be said for the comfort level of a seller knowing their agent physically lives in the same community they do. 

I did everything right. My mailer was eye catching and generated a phone call. My listing presentation was professional and informative. The conversation with the homeowners was personal and I connected well with them. But I still didn't get the listing because of something that is out of my control. I don't live where they live. We can only do what is within our power to do. We won't always come out on top. A professional athlete can play the best game of his career and still ultimately lose the game. 

My losing streak sits at three in a row for the time being but I'll wake up tomorrow with as much enthusiasm to tackle the day as I always do. Winning streaks don't last but thankfully neither do losing streaks!

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Rainmaker
1,523,571
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Nicole Doty - Gilbert Real Estate Expert,  Keep plugging along and the you will get the listings.

Aug 16, 2015 01:25 PM #3
Rainmaker
834,294
Dan Dee McGinnis The Pumpkin Man
HomeSmart - Phoenix, AZ

Nicole,

Keep at it, today we face challenges we did not have 35 years ago.

Aug 16, 2015 01:36 PM #4
Rainmaker
679,869
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Mike - Yes, I always give potential sellers what I think their home is worth. 

Ed - I can usually sniff those ones out pretty quickly.

Sybil - It's all cyclical. In my 17 years in real estate one thing I know is that you can go long stretches of drought and then it will start pouring!

Dan - It's a new day tomorrow and I'll be back on the grind!

Aug 16, 2015 01:46 PM #5
Rainmaker
120,326
Randy Hilman, Associate Broker
Randy Hilman Homes - Moultonborough, NH
What Matters to You, Means Everything to Me!

Living in the neighborhood won't put the seller's home in front of any more qualified buyers.  Monitor the listing and endeavor to be second on the seller's list of agents.  You can't solicit the listing but you can send the occasional friendly  card, a news letter, local market report.  The table can turn in your favor.

Aug 16, 2015 02:33 PM #6
Rainmaker
797,359
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Nicole - As long as you continue to do everything right, you will win way more often than you will lose.

Aug 16, 2015 05:41 PM #7
Rainmaker
2,237,679
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Nicole. When you do all that you are supposed to do and do it well, good things will happen, sometimes it just takes a bit longer than we want.

Make it a great week!

Aug 16, 2015 06:33 PM #8
Ambassador
2,758,510
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Monday morning Nicole. We all do the best that we can do. Sometimes we just have to wait for it to happen.

Aug 16, 2015 07:24 PM #9
Rainmaker
2,851,190
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Nicole.  I do this week goes better for you.  With three NO'S you're just another step closer to a YES.. 

Aug 16, 2015 08:04 PM #10
Rainer
111,306
Dama Scott
One World Realty, Inc. - Palm Beach Gardens, FL
Evergrene Resident Specialist

Nicole,

Know just how you must feel.  Sometimes I can get so discouraged.  And, there's such an ebb and flow in real estate trends and sellers' rationale.   Hang in there - I'm right there with you.  Thanks for sharing.  Great article.

Aug 16, 2015 09:04 PM #11
Rainmaker
1,518,217
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Ashburn, VA
Alexandria Virginia Homes For Sale

Nicole, I can relate and you're right losing streaks don't last. Sometimes there's just no explanation of why they went with another agent. I bet this week brings you a new listing!

Aug 16, 2015 11:20 PM #12
Rainmaker
679,869
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Randy - I'll be keeping an eye out on it for sure!

Troy - You are absolutely right. I know I'm just in the middle of a losing streak right now but it won't stop me from swinging away.

Joe - Although I didn't get the last three listings I know I'm doing everything to the best of my abilities. 

Michael - We don't always win but it will be nice when I finally do get out of this small slump. 

 

Aug 17, 2015 12:39 AM #13
Rainmaker
679,869
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

James - I will continue to work as hard as I always do until those "Yes's" start rolling in again.

Dama - Real Estate can be very fickle. One day you're up and the next day you're down. I've been doing this for 17 years and I know it will turn around. 

Amanda - I'm up and at em again this morning. I won't let a few lost listings keep me down!

Aug 17, 2015 12:42 AM #14
Rainmaker
3,097,139
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nicole Doty,  Keep your eye on it, it happens.  Hopes you are going to have a great week.  I am back and excited from the Tom Ferry Summit in San Diego and off and running!

Aug 17, 2015 12:53 AM #15
Rainmaker
1,492,524
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Nicole, we can do everything right, yet, don't get the listing for various reasons. I love your enthusiasm, just remember, when one door closes, another one will open!

Aug 17, 2015 02:21 AM #16
Rainmaker
1,867,758
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Nicole - you did everything right and you have the right insight here.  You are due for a good one.  Tough times don't last.  Tough people do.

Aug 17, 2015 06:28 AM #17
Rainmaker
1,143,921
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

It happens to the best of us and then next thing you know the next week is 4/4 so take it in stride and if you were prepared and did all you could then you have nothing to worry about

Aug 17, 2015 07:47 AM #18
Ambassador
1,342,215
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

You're still a winner, baby!! How wonderful that the take-away was that your packet (that you spend pretty good buckos on I'm sure) is exemplary. They didn't have to say that. 

I know that you've already picked yourself up, dusted yourself off and got back in the game for a "home" run coming soon!!

Aug 17, 2015 10:28 AM #19
Rainmaker
280,079
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

Just say "next".  I lost a $675,000 listing last week.  The sellers mom insisted her son use the agent they had used.  The listing has the world's most awful IPhone pictures.  I cannot believe that agent didn't do a better job.  Oh well.  I hope to find a buyer that needs a 5 car garage and go sell the darn thing.

Aug 17, 2015 10:42 AM #20
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Losing streak.....I would say NOT!  You're a winner, these just aren't the right fit for you, and you'll probably never know the reason why, but everything happens for a reason.

Aug 17, 2015 09:59 PM #21
Rainmaker
679,869
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Will - I hope you had a great Monday!

Beth - I am constantly on the look out for that other door!

Grant - I'm as tough as they come!

David - That email was uplifting and sucked all at the same time. It showed me I did everything I could and that I'm supposed to do.

Gayle - I made a ton of phone calls yesterday and passed out three business cards!

Jeanne - That's the spirit! If you can't be the listing agent then be the buyers agent!

Roger - Well it feels kind of like a losing streak but I'll keep tossing those dice baby!

Aug 18, 2015 12:15 AM #22
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Nicole Doty - Gilbert Real Estate Expert

Broker/Owner of Zion Realty ZionRealtyAZ.com
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